Different Types of Real Estate Home Loans
Getting the right type of real estate home loan is an important part of the home-buying process. In this section of my website, I have put together some basic information regarding the types of real estate home loans that are common in the market today.
Fixed-rate mortgages are mortgages where the interest rate stays the same for the entire term of the loan. The advantage to a fixed-rate mortgage is that if you lock in a relatively low rate, your payment won’t go up when rates do.
With an adjustable-rate mortgage, the rate of the loan can change throughout the term of the loan. The rate of the loan is based on adding points to a fixed base.
A hybrid loan combines a fixed period along with an adjustable component. Usually, these loans are fixed for a period of time, and then the loan becomes adjustable, where it is dependent on current rates.
An FHA loan is a loan in the United States that is insured by the Federal Housing Administration.
A VA loan is a loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA was designed to offer long-term financing to American veterans or to their surviving spouses.
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With more than 50 years in Westside real estate, Terry Ballentine offers unmatched expertise in Marina del Rey, Venice, and nearby coastal communities. He provides personalized guidance for buyers, sellers, and investors, earning long-term trust and repeat clients. Terry’s hands-on approach and deep local knowledge ensure every transaction is handled with care and precision.
Terry Ballentine | CA DRE# 00588883
124 Washington Blvd Marina Del Rey, CA 90292